UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
TRIPLE-S MANAGEMENT CORPORATION
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(Name of Issuer)
CLASS B COMMON STOCK, PAR VALUE $1.00
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(Title of Class of Securities)
896749108
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(CUSIP Number)
April 30, 2008
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule 13G is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP NO. 896749108
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1. Names of Reporting Persons. Tyndall Capital Partners, L.P.
I.R.S. Identification Nos. Of Above Persons (entities only): 13-3594570
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2. Check the Appropriate Box if a Member of a Group*
(a) [ ] (b) [ ]
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3. SEC Use Only
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4. Citizenship or Place of Organization: Delaware
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Number of Shares Beneficially Owned
by Each Reporting Person With: 5. Sole Voting Power: 863,454**
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6. Shared Voting Power: 0
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7. Sole Dispositive Power: 863,454**
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8. Shared Dispositive Power: 0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person: 863,454**
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions): N/A
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11. Percent of Class Represented by Amount in Row (9): 5.3%**
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12. Type of Reporting Person (See Instructions): PN
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** Based on 16,266,554 shares of Class B common stock, par value $1.00 per share
(the "Shares"), of Triple-S Management Corporation, a Puerto Rico corporation
(the "Company"), outstanding as of February 29, 2008, as disclosed in the
Company's most recent Annual Report on Form 10-K for the fiscal year ended
December 31, 2007. As of April 30, 2008, 578,544 Shares are owned by Tyndall
Partners, L.P., a Delaware limited partnership ("Tyndall") and 284,910 Shares
are owned by Tyndall Institutional Partners, L.P., a Delaware limited
partnership ("Tyndall Institutional"). Tyndall Capital Partners, L.P. is the
general partner of Tyndall and Tyndall Institutional, and possesses the sole
power to vote and the sole power to direct the disposition of all the Shares
held by Tyndall and Tyndall Institutional.
Item 1(a). Name Of Issuer. Triple-S Management Corporation
Item 1(b). Address of Issuer's Principal Executive Offices:
1441 F.D. Roosevelt Avenue, San Juan, PR 00920
Item 2(a). Name of Person Filing: Tyndall Capital Partners, L.P.
Item 2(b). Address of Principal Business Office or, if none, Residence:
599 Lexington Avenue, Suite 4100, New York, New York 10022
Item 2(c). Citizenship: Delaware
Item 2(d). Title of Class of Securities: Class B common stock, par value $1.00
per share
Item 2(e). CUSIP Number: 896749108
Item 3. If This Statement Is Filed Pursuant to Sections 240.13d-1(b) or
240.13d-2(b) or (c), check whether the Person Filing is a:
Not Applicable.
Item 4. Ownership.
(a) Amount beneficially owned (as of April 30, 2008): 863,454**
(b) Percent of Class (as of April 30, 2008): 5.3%**
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 863,454**
(ii) Shared power to vote or to direct the vote: 0
(iii) Sole power to dispose or to direct the
disposition of: 863,454**
(iv) Shared power to dispose or to direct the
disposition of: 0
Item 5. Ownership of Five Percent or Less of a Class
Not Applicable.
Item 6. Ownership of More Than Five Percent on Behalf of Another Person
Not Applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company or
Control Person
Not Applicable.
Item 8. Identification and Classification of Members of the Group
Not Applicable.
Item 9. Notice of Dissolution of Group
Not Applicable.
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** Based on 16,266,554 shares of Class B common stock, par value $1.00 per share
(the "Shares"), of Triple-S Management Corporation, a Puerto Rico corporation
(the "Company"), outstanding as of February 29, 2008, as disclosed in the
Company's most recent Annual Report on Form 10-K for the fiscal year ended
December 31, 2007. As of April 30, 2008, 578,544 Shares are owned by Tyndall
Partners, L.P., a Delaware limited partnership ("Tyndall") and 284,910 Shares
are owned by Tyndall Institutional Partners, L.P., a Delaware limited
partnership ("Tyndall Institutional"). Tyndall Capital Partners, L.P. is the
general partner of Tyndall and Tyndall Institutional, and possesses the sole
power to vote and the sole power to direct the disposition of all the Shares
held by Tyndall and Tyndall Institutional.
Item 10. Certification.
By signing below, I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of such securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
May 6, 2008
TYNDALL CAPITAL PARTNERS, L.P.
By: JEFFREY MANAGEMENT, LLC,
its general partner
/s/ Jeffrey S. Halis
By:----------------------------
Jeffrey S. Halis, Manager
Attention: Intentional misstatements or omissions of fact constitute
Federal criminal violations (See 18 U.S.C. 1001)